The U.S. dollar which saw some losses on Tuesday rallies against the euro on Wednesday following comments from Atlanta Fed President which supported a September rate hike.

The USD/JPY pair was little changed at 124.39. The AUD/USD pair lost 0.46 percent to 0.7345. The pair was expected to find support at 0.7261 and resistance at 0.7429.

The U.S. dollar index which measures the greenback against a basket of six major currencies hit its three and a half months high at 98.218 before settling at 98.096.

Later in the day U.S. ADP job reports for July and ISM service sector activity will be released. The AUD/NZD pair lost 0.21 percent trading at 1.1263.

Brent oil for September delivery on the New York Mercantile Exchange added 1.06 percent to 50.52 dollars a barrel. Crude oil for September delivery on the New York Mercantile Exchange added 0.97 percent and traded at 46.19 dollars a barrel during European morning hours.

Gold futures on the Comex of the New York Mercantile Exchange for September delivery tumbled 0.35 percent to 1,086.90 dollars a troy ounce during Wednesday’s morning European hours.

Silver on the Comex for September delivery lost 0.36 percent falling to 14.50 dollars a troy ounce while copper, which fell to its six year low earlier this week, lost 0.63 percent and traded at 2.347 dollars a pound.